The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify
Heres How Much Money You Need To Live Comfortably In San Antonio
Do you make enough dough to live comfortably in San Antonio?Photo courtesy of The Emily Morgan Hotel
How much money do you need to live the good life in San Antonio? We turned to GoBankingRates, which recently calculated the annual income needed to live comfortably in the 75 most populous U.S. cities, to find out.
For its calculations, the financial website assumed residents follow the "50-30-20" guideline: 50 percent of your income goes towards necessary expenses, 30 percent can be used for fun, and 20 percent is put into savings.
A cost-of-living analysis, surveying living expenses (rent, groceries, utilities, transportation, and healthcare), was conducted for each city. That total was doubled to determine how much money a single person needs to earn if following the aforementioned budget.
In San Antonio, the magic number to live comfortably is $46,238. In this scenario, $23,119 is required to pay yearly living expenses, leaving $15,967 for fun money and $9,248 for savings. By GoBankingRate's calculations, San Antonians are right on target. The website says the median household income in San Antonio is $46,317, a few bucks more than what you need to live comfortably.
Other studies, however, show the average occupational salary is $43,740, which means workers are a few grand shy of living the dream in Alamo City.
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